SunPower and Total partner to create new global leader in solar industry with $1.4 billion tender offer

Client(s) SunPower Corporation

Jones Day advised SunPower Corporation in the completion of the $1.4 billion tender offer by Total for up to 60% of SunPower's outstanding Class A Common Shares and 60% of SunPower's outstanding Class B Common Shares at a price of $23.25/share for each class. Total will provide SunPower with up to $1 billion of credit support over the next five years.

SunPower Corp. designs, manufactures, and delivers the highest efficiency, highest reliability solar panels and systems available today. Residential, business, government and utility customers rely on the company's quarter century of experience and guaranteed performance to provide maximum return on investment throughout the life of the solar system. Headquartered in San Jose, California, SunPower has offices in North America, Europe, Australia and Asia.

In addition to M&A representation, Jones Day provided capital markets, banking, intellectual property, securities litigation, tax, antitrust, labor and employment, government regulation, employee benefits, environmental, real estate, and litigation advice regarding this transaction.